ChainVault is building a regulated crypto bank powered by DeFi. Users will be able to earn interest, borrow, and trade on their platform.
Summary of Grant Applicant:
John and Owen are in Y Combinator’s S21 batch, having received a $125k investment.
The ChainVault savings account will allow users to earn interest on stable coins, making use of the Curve Aave stable pool. Their trading account will connect to Curve’s trading pools to facilitate crypto swapping. The platform will target average crypto holders who are not currently using DeFi, but who may be using centralized lending services such as BlockFi, Nexo, or Celcius.
The team is in the early stage of product development. The co-founders plan to develop their initial product, leveraging social media for user acquisition. They plan to use grant funds to invest in a legal team to help them establish initial jurisdictions for their operations.
They plan to raise a seed round within the next year. Funding will be used to hire people to develop and market the product.
Requested Grant Size: